Hello, everyone!
As I mentioned in my last
BTCUSDT analysis, the dump was expected after triangle wave 4 forming. I told you that short trade is incoming in wave 5 after the first bearish reversal bar. I have opened short at the 4h bearish reversal bar confirmation. My entry point was $27200. Now I have stop loss at entry.
The current dump is not going to continue without the corrective wave. We can see that wave 3 has reached the 1.61 Fibonacci extension. Reactive wave 4 has not overlapped the wave 1 bottom. It can give me an evidence that my formation is valid. Now my purpose is to catch the wave's 5 bottom to close short and open long for the potential correction. I am going to watch out the bullish reversal bur to do it.
Best regards, Ivan
_________________________________
❤️Follow me and never miss update❤️
As I mentioned in my last
BTCUSDT analysis, the dump was expected after triangle wave 4 forming. I told you that short trade is incoming in wave 5 after the first bearish reversal bar. I have opened short at the 4h bearish reversal bar confirmation. My entry point was $27200. Now I have stop loss at entry. The current dump is not going to continue without the corrective wave. We can see that wave 3 has reached the 1.61 Fibonacci extension. Reactive wave 4 has not overlapped the wave 1 bottom. It can give me an evidence that my formation is valid. Now my purpose is to catch the wave's 5 bottom to close short and open long for the potential correction. I am going to watch out the bullish reversal bur to do it.
Best regards, Ivan
_________________________________
❤️Follow me and never miss update❤️
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Claim up to 600 USDT in welcome rewards & compete for a share of 5,000 USDT in BitMart Futures Contest!
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.